The Challenge
In 2018, a growing Payment Service Provider (PSP) from Ukraine was in need of a partner to help establish their card processing infrastructure. They turned to D8 for assistance, and we were able to help them achieve their goals by offering our premier solution for building card processing infrastructure – our Payment Acquiring Platform, tightly integrated with the Merchant Management Platform for capturing e-commerce transactions. The complex solution we offered encompassed all aspects of card processing, including acquiring and e-commerce, with direct connections to major payment networks like Visa and Mastercard.
Solution We Offered
Our client was seeking a reliable and efficient system to handle their card transactions, and our solution provided them with exactly that. By leveraging our expertise and experience in the payment industry, we were able to create a tailored infrastructure that met their specific needs. This included implementing secure and robust systems for acquiring card transactions from merchants and facilitating online payments.
Our client, being a startup PSP company, came in with somewhat vague requirements. To ensure a smooth implementation process, without doing a lot of rework, we also offered Payments Consulting service, helping our client define business and technical requirements for the project.
Our client placed a special emphasis on the e-commerce channel, as it was their primary business at that moment. In the first stage of the project, they wanted to launch a fully capable e-commerce acquiring system. It should include a payment gateway for collecting transactions from merchants’ stores. Also, a back-end acquiring switch with direct connections to Visa and Mastercard networks. And a merchant portal for onboarding merchants.
Our Payment Acquiring Platform together with Merchant Management Platform had all the necessary components to launch as quickly as possible. In 2 months’ time, we have built and certified a fully operational gateway with a merchant portal, and our client was able to start onboarding their merchants. One of the key advantages of our solution was the direct connections to Visa and Mastercard. This allowed our client to process card payments seamlessly and efficiently, without relying on third-party acquiring partners. Direct connections not only improved the speed and reliability of transactions but also reduced associated costs.
The Results
- Launched a fully operational acquiring PSP infrastructure in 2 months' time
- Built a full KYC, Merchant screening, and onboarding process internally
- Developed customized payment form plugins for different e-commerce engines
